Amalgamated Bank Has $2.13 Million Stock Holdings in News Co. (NASDAQ:NWSA)

Amalgamated Bank lowered its stake in News Co. (NASDAQ:NWSA) by 33.6% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 77,323 shares of the company’s stock after selling 39,095 shares during the period. Amalgamated Bank’s holdings in News were worth $2,132,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Contour Asset Management LLC boosted its holdings in shares of News by 97.8% during the 4th quarter. Contour Asset Management LLC now owns 3,442,650 shares of the company’s stock valued at $84,517,000 after acquiring an additional 1,702,483 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of News by 2.2% during the second quarter. Bank of New York Mellon Corp now owns 2,855,605 shares of the company’s stock valued at $78,729,000 after purchasing an additional 61,417 shares in the last quarter. Balyasny Asset Management L.P. grew its holdings in shares of News by 249.7% during the fourth quarter. Balyasny Asset Management L.P. now owns 2,206,990 shares of the company’s stock worth $54,182,000 after purchasing an additional 1,575,803 shares during the last quarter. Junto Capital Management LP acquired a new position in shares of News in the fourth quarter valued at approximately $43,928,000. Finally, Fort Baker Capital Management LP raised its holdings in News by 48.6% in the 4th quarter. Fort Baker Capital Management LP now owns 1,695,158 shares of the company’s stock valued at $41,616,000 after buying an additional 554,365 shares during the last quarter. Institutional investors own 66.97% of the company’s stock.

News Stock Performance

NASDAQ:NWSA opened at $26.71 on Wednesday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.33 and a current ratio of 1.43. News Co. has a fifty-two week low of $19.25 and a fifty-two week high of $28.62. The company has a 50 day simple moving average of $27.14 and a two-hundred day simple moving average of $26.49. The company has a market capitalization of $15.22 billion, a PE ratio of 74.19 and a beta of 1.34.

News (NASDAQ:NWSA) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.01. The company had revenue of $2.58 billion during the quarter, compared to analysts’ expectations of $2.49 billion. News had a net margin of 2.64% and a return on equity of 4.51%. News’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.14 earnings per share. Research analysts anticipate that News Co. will post 0.87 earnings per share for the current year.

News Announces Dividend

The firm also recently announced a Semi-Annual dividend, which will be paid on Wednesday, October 9th. Investors of record on Wednesday, September 11th will be given a dividend of $0.10 per share. The ex-dividend date is Wednesday, September 11th. This represents a dividend yield of 0.7%. News’s payout ratio is 55.56%.

Analyst Ratings Changes

NWSA has been the topic of a number of research reports. JPMorgan Chase & Co. boosted their target price on shares of News from $34.00 to $37.00 and gave the stock an “overweight” rating in a report on Thursday, August 15th. Loop Capital increased their price objective on News from $38.00 to $39.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. Four analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $38.00.

About News

News Corporation, a media and information services company, creates and distributes authoritative and engaging content, and other products and services for consumers and businesses worldwide. It operates in six segments: Digital Real Estate Services, Subscription Video Services, Dow Jones, Book Publishing, News Media, and Other.